@pantheon1
1. 🕵️♂️ The attacker exploited Loopscale by taking a series of undercollateralized loans, draining 5.7M USDC and 1,200 SOL from the protocol.
2. 💸 Only Loopscale’s $USDC and $SOL vaults were affected. The stolen assets represent about 12% of the protocol’s TVL.
3.⏸️ Loopscale has paused lending markets and is working to restore repayment functionality ASAP to prevent further liquidations.
4. 🗣️ Co-founder Mary Gooneratne says: “Our team is fully mobilized to investigate, recover funds, and ensure users are protected.”
1 reply
0 recast
0 reaction